Bernstein Liebhard LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of Armstrong Flooring, Inc. Common Stock -- AFI
LOS ANGELES, March 29, 2021 /PRNewswire/ -- Bernstein Liebhard LLP announces that the United States District Court for the Central District of California, Western Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of Armstrong Flooring, Inc. common stock (NYSE: AFI):
SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES
To: All persons and entities who or which purchased the common stock of Armstrong Flooring, Inc. ("Armstrong Flooring") on the open market during the period from March 6, 2018 through March 3, 2020, and who were damaged thereby ("Settlement Class").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Central District of California, that the Court-appointed Lead Plaintiff, on behalf of himself and all members of the proposed Settlement Class, and Defendant Armstrong Flooring have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $3,750,000 (the "Settlement").
A hearing will be held before the Honorable Christina A. Snyder, on July 19, 2021, at 10:00 a.m., in United States District Court for the Central District of California, First Street U.S. Courthouse, 350 W. 1st Street, Courtroom 8D, 8th Floor, Los Angeles, CA 90012 (the "Settlement Hearing") to, among other things, determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated January 15, 2021; (iii) approve the proposed Plan of Allocation for distribution of the settlement funds available for distribution to Settlement Class Members (the "Net Settlement Fund"); and (iv) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it telephonically, without providing another notice. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.
IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT, AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. You may obtain a Proof of Claim and Release ("Claim Form") and review the Internet Notice of Pendency and Proposed Settlement of Class Action ("Internet Notice") on the website https://www.strategicclaims.net/Armstrong/ or by contacting the Claims Administrator at:
Armstrong Flooring, Inc. Securities Litigation
c/o Strategic Claims Services
600 N. Jackson St., Suite 205
P.O. Box 230
Media, PA 19063
Toll-Free: (866) 274-4004
Fax: (610) 565-7985
info@strategicclaims.net
https://www.strategicclaims.net/Armstrong/
Inquiries, other than requests for the Internet Notice/Claim Form or for information about the status of a claim, may also be made to Lead Counsel:
BERNSTEIN LIEBHARD LLP
Michael S. Bigin, Esq.
10 East 40th Street
New York, NY 10016
212-779-1414
armstronginfo@bernlieb.com
If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than June 20, 2021 to the Claims Administrator. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.
If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Internet Notice such that it is received no later than June 28, 2021 by the Claims Administrator. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.
Any objections to the proposed Settlement, Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Internet Notice, such that they are received no later than June 28, 2021.
SO ORDERED this 22nd day of February 2021.
The Honorable Christina A. Snyder
United States District Judge
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SOURCE Bernstein Liebhard LLP
